Thursday, Oct 02, 2014

Tata Motors Q1 net profit jumps 3-fold to Rs 5,398.21 cr

Strong sales of Tata Motors' luxury Jaguar and Land Rover vehicles offset drop in domestic sales. (Reuters) Strong sales of Tata Motors' luxury Jaguar and Land Rover vehicles offset drop in domestic sales. (Reuters)
Press Trust of India | Mumbai | Posted: August 11, 2014 5:08 pm

Tata Motors today reported over 3-fold jump in consolidated net profit at Rs 5,398.21 crore for the first quarter ended June 30, riding on sharp increase in Jaguar Land Rover sales.

The auto major had posted consolidated net profit of Rs 1,726.07 crore in the April-June period of the 2013-14 fiscal.

Net sales during Q1, 2014-15 increased by 37.18 per cent to Rs 64,150.74 crore, from Rs 46,761.91 crore in the year-ago period, Tata Motors said in a filing to the BSE.

Revenue from the company’s British unit, Jaguar Land Rover went up by 53.89 per cent to Rs 54,425.97 crore in Q1, as against Rs 35,364.97 crore in the year-ago period.

On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs 9,898.38 crore – down 11.33 per cent from 11,163.9 crore in the same period a year ago.

On a standalone basis, Tata Motors’ net profit declined by 44 per cent to Rs 393.65 crore as against Rs 703.26 crore in the same period a year ago.

Standalone net sales were at Rs 7,612.89 crore in Q1, compared to Rs 9,035.61 crore Q1 of last fiscal.

The company’s standalone sales were at 1,10,612 units of commercial and passenger vehicles, including exports, for the quarter ended June 30, down 28.33 per cent from 1,54,352 units in the corresponding period last year.

Tata Motors shares closed at Rs 447.40 apiece, up 3.33 per cent, on the BSE.

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